NEXTNRG, INC. Annual Report: A Plain-English Guide

I’m breaking down how NEXTNRG, INC. (formerly EzFill) performed this year. The company is currently transforming from a simple fuel delivery service into a broader "energy tech" business.

1. What does this company do?

NEXTNRG is focusing on four main areas:

• Smart Microgrids: They build independent power grids for schools and hospitals. They use AI to manage energy storage, targeting a $40 billion market.
• Tech Licensing (SaaS): They sell their "RenCast" AI software to regional utilities. These subscriptions bring in an average of $150,000 per client each year.
• Wireless EV Charging: They are developing "hands-free" charging pads for electric vehicles, with three pilot programs currently running in parking garages.
• Mobile Fueling: This is their original business. They use 145 trucks to deliver fuel in Florida and the Northeast. They process over 1.2 million gallons annually through their app.

2. The "Secret Sauce": AI and Safety

The company relies on its "digital brain," RenCast. This AI predicts solar and wind energy output with 93% accuracy, helping grid operators cut energy waste by 12%.

For fuel delivery, they prioritize safety. They follow all Department of Transportation rules and NFPA 30A standards. Drivers complete 80 hours of hazardous materials training. By using 24/7 monitoring and better route planning, they cut fuel use per delivery by 8% this year.

3. Big Corporate Changes

The name change from EzFill to NEXTNRG follows their $22 million purchase of "Next Charging" in February 2025. This was a major strategic shift. CEO Michael Farkas, who owns 48.7% of the company, is moving the business toward renewable energy to move away from low-profit fuel delivery.

4. Financial Health: The "High-Wire Act"

The company lost $28.4 million this year as they spent heavily to build new infrastructure. They rely on aggressive financing:

• More shares issued: To pay for the acquisition and operations, they increased authorized shares from 50 million to 500 million. Over the last two years, the number of shares has grown by 320%, which reduces your ownership percentage.
• High-Interest Debt: They owe $18.5 million in short-term notes. These charge 12% to 18% interest and are due within a year, creating constant pressure to refinance.
• Selling Future Receipts: They use Merchant Cash Advances, selling future credit card sales at an effective annual rate over 40%. This provides quick cash but hurts daily cash flow.
• Recent Cash Injection: In February 2025, they raised $15 million by selling stock at $1.20 per share. This gives them about 9 to 12 months of runway, but they still rely on expensive, short-term debt.

5. Future Outlook & Risks

The company has a $750 million project pipeline with 14 signed letters of intent for microgrids. The main risk is execution. They must turn these non-binding letters into real contracts before they run out of cash.

They are in a race against time. They need to scale their tech projects to reach a 35% profit margin—up from their current 12% in fuel. If they cannot secure cheaper, long-term funding, they will likely have to issue more shares, further reducing your ownership.

Investor Takeaway: NEXTNRG is a high-risk, high-reward play. You are essentially betting on whether their new AI and microgrid technology can generate enough profit to pay off their expensive short-term debt before they run out of cash. Keep a close eye on their ability to convert those $750 million in project leads into actual, signed contracts.